Duality Advisers LP Lowers Holdings in Manulife Financial Co. (NYSE:MFC)

Duality Advisers LP lessened its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 67.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,315 shares of the financial services provider’s stock after selling 50,041 shares during the quarter. Duality Advisers LP’s holdings in Manulife Financial were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of MFC. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Manulife Financial in the 3rd quarter worth about $27,000. Anchor Investment Management LLC bought a new stake in Manulife Financial in the 4th quarter worth about $27,000. Trust Co. of Vermont increased its holdings in Manulife Financial by 478.5% in the 3rd quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after buying an additional 1,268 shares in the last quarter. Arlington Trust Co LLC bought a new stake in Manulife Financial in the 3rd quarter worth about $29,000. Finally, NBC Securities Inc. bought a new stake in Manulife Financial in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.5 %

Manulife Financial stock opened at $23.37 on Friday. The business has a 50-day simple moving average of $24.02 and a two-hundred day simple moving average of $21.58. The company has a market cap of $42.09 billion, a P/E ratio of 12.11, a P/E/G ratio of 0.87 and a beta of 1.08. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $25.14.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $7.57 billion. Research analysts anticipate that Manulife Financial Co. will post 2.71 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.298 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date was Tuesday, February 27th. Manulife Financial’s payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MFC. Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Jefferies Financial Group began coverage on Manulife Financial in a report on Thursday, February 22nd. They issued a “buy” rating for the company. Finally, BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $31.00 to $35.00 in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.33.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.